As part of CoinDesk's Mining Week, presented by Foundry, Auradine CEO Rajiv Khemani joins "The Hash" to discuss the future of bitcoin mining technology and operations in the U.S. amid crypto winter.
It's Mining Week at Coin desk and that is presented by Foundry. Although the Bitcoin having will reduce rewards for miners, the prospects for the industry remain pretty bright. Coindesk and Foundry are both owned by DC G. Joining us on the hash now to discuss is the CEO of web infrastructure solutions provider or Rajiv Kan. Welcome to the show, Raje. Thank you, Jen. It's a pleasure to be here. All right. So your company just launched a new line of us crafted Bitcoin mining rigs. Tell us about the rigs, what's so special about them. Yeah. Uh Well, we just did this announcement this week. Uh We are a young company based in Silicon Valley and uh when we started this company, we wanted to focus on the future of the infrastructure with Bitcoin being the leading uh Blockchain in the world. Uh We saw a few, a few challenges that the mining industry was facing. One. As we all know, there's a debate on energy usage of Bitcoin and secondarily about while about 35 to 40% of Bitcoin mining happens in the United States, almost all of the ASIC come from China. And as you know that presents certain geopolitical supply chain risks and so forth. And so what we said is let's build a product from the ground up. So we built an Asic and phone animated technology, which is the most advanced chip technology in the world today. Um And uh that was necessary to bring the energy consumption down. Uh But what we also did is in addition to this, we put together a system and software solutions and some really innovative technology that we call energy tune that allows for rapid demand response for the miners. And we unveil these products and technologies with products made in the United States this week. Awesome. Thank you again for coming on the show. I'm curious to know a little bit more about how you see Blockchain pri privacy and A I fitting into what you guys are currently doing uh specifically as it relates to marathon Digital. Uh Are you guys have been working with Marathon digital on some of these Mayer machines? I I know Fred is the CEO of Marathon Digital also on your guys's board. How do you guys see all these different parts working together? Yes, so well. First of all, uh we are working with marathon, we are working with a variety of leading us mining providers and we did actually work very closely with the marathon as well as with some of the other guys to put together a product that we felt would meet their needs. Uh the product can operate in harsh environments, can operate close to natural gas, flaring sites can operate close to solar infrastructure, you know, where there's uh maybe the temperatures are too hot. And so we wanted to make sure that we delivered a product that delivered much better up time along with very rapid demand response. Now, in terms of your question about A I and privacy, we think these are linked, they are all future technologies that have tremendous um infrastructure challenges, cost power uh is very important for all of these things. And what's happening is that data uh Bitcoin mining data center operators also want to build uh A I data data centers in terms of um you know, providing generative A I technologies at the edge. They have technologies like immersion, cooling and so forth that are applicable to A I applications as well. And in terms of uh privacy, we we are still early, we haven't announced a product yet, but we are working on some innovative zero knowledge proof based technologies that are very complimentary to both of these things. And you know, we'll announce all of these things as we get closer to market over the next few quarters. Um And you mentioned uh this uh technology use energy tune that allows the miners to uh respond to the uh demand response needs of the electrical grid. Can you, can you talk a little bit in in detail how that works? Yes. So what we do is that, you know, these miners traditionally operate at a single hash rate and a single energy consumption point. Uh But what happens is that when the electric supplier wants the miners to reduce the usage of energy, typically, the miners have a challenge right now so they can either turn it on or turn it off. But sometimes the energy provider says bring, bring down the energy by 20% or some arbitrary percentage that is needed by the consumer at that point in time. And so with energy tune, we provide the miners extreme very fine granular uh ability to bring the energy up or down as is aligned by the energy providers requirements. In addition, as we all know, Bitcoin um had this spurt of transaction fees with the ordinals. Um and so sometimes you want to hashh at higher data rates at higher hashing rates to capture those transaction fees. So with this energy tune capability, they can move it up and down. We also have an interesting capability called auto tune where the miner can automatically tune or through API calls very rapidly, go up and down and do that while operating in harsh conditions. So the miner boots up at sub zero temperatures and keeps operating at 50 degrees c ambient temperatures. As we see in certain parts of the world, there is a very hot climate. So our goal is to make sure that we provide the best product to the miners for becoming responsible partners to the energy ecosystem. Thank you so much for joining the show.